Desjardins Increases Canadian Western Bank (TSE:CWB) Price Target to C$57.00

Canadian Western Bank (TSE:CWB) had its target price hoisted by analysts at Desjardins from C$53.00 to C$57.00 in a research report issued on Tuesday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ price target would suggest a potential upside of 11.46% from the company’s current price.

Other analysts also recently issued reports about the stock. BMO Capital Markets downgraded shares of Canadian Western Bank from an “outperform” rating to a “market perform” rating and upped their target price for the stock from C$35.00 to C$52.00 in a research report on Wednesday, June 12th. CIBC increased their price target on shares of Canadian Western Bank from C$55.80 to C$60.30 and gave the company a “neutral” rating in a report on Tuesday. Royal Bank of Canada boosted their price objective on shares of Canadian Western Bank from C$51.00 to C$52.00 and gave the stock a “sector perform” rating in a report on Tuesday. Jefferies Financial Group upped their price objective on Canadian Western Bank from C$52.00 to C$57.00 and gave the company a “hold” rating in a research report on Tuesday. Finally, Scotiabank lifted their target price on Canadian Western Bank from C$30.00 to C$52.00 and gave the stock an “outperform” rating in a report on Tuesday, June 18th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$44.10.

Canadian Western Bank Stock Down 0.6 %

CWB traded down C$0.33 on Tuesday, hitting C$51.14. The company’s stock had a trading volume of 186,845 shares, compared to its average volume of 370,022. Canadian Western Bank has a 12 month low of C$24.66 and a 12 month high of C$52.80. The company’s 50 day simple moving average is C$46.79 and its 200-day simple moving average is C$35.14. The firm has a market cap of C$4.94 billion, a P/E ratio of 15.22, a price-to-earnings-growth ratio of 2.95 and a beta of 1.39.

Canadian Western Bank (TSE:CWB) last posted its quarterly earnings results on Friday, May 31st. The company reported C$0.81 EPS for the quarter, missing the consensus estimate of C$0.86 by C($0.05). Canadian Western Bank had a return on equity of 8.66% and a net margin of 32.29%. The business had revenue of C$285.92 million for the quarter, compared to analysts’ expectations of C$290.33 million. Equities analysts predict that Canadian Western Bank will post 3.703869 earnings per share for the current fiscal year.

Insider Activity at Canadian Western Bank

In related news, Senior Officer Trent Albert Erickson purchased 4,312 shares of Canadian Western Bank stock in a transaction that occurred on Friday, June 14th. The shares were bought at an average price of C$41.44 per share, with a total value of C$178,680.66. In other Canadian Western Bank news, Senior Officer Jenny Siman sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of C$46.05, for a total value of C$46,050.00. Also, Senior Officer Trent Albert Erickson bought 4,312 shares of Canadian Western Bank stock in a transaction that occurred on Friday, June 14th. The shares were acquired at an average cost of C$41.44 per share, for a total transaction of C$178,680.66. 0.46% of the stock is currently owned by insiders.

Canadian Western Bank Company Profile

Canadian Western Bank provides personal and business banking products and services in Western Canada. The company offers current, savings, US dollar, chequing, flex notice, organization, business trust, and trust fund investment accounts. It also offers commercial lending and real estate, equipment financing and leasing, aviation financing, and dealership financing products; agriculture lending products and AgriInvest savings account; variable and fixed rate mortgages; line of credit; registered retirement savings plan, consolidation, and vehicle loans; and credit cards.